The Government of Nepal has commenced a project with a view to digitalizing all its financial transactions at all Governmental offices in Nepal. The attempt is to allow Nepalese people pay their government revenue as well pay taxes online with an aid of the internet.
Finance Minister of Nepal, Mr. Yubaraj Khatiwada made an inauguration of the Digital Payment System during a function which was held in the Ministry on Wednesday, 25 April 2018. And, the system is currently available at the Taxpayer’s office Thamel in its initial phase. Mr. Khatiwada stated that the use of an electronic system in financial transactions will ease the transaction process for the people, enabling them to carry out one in quick time as well. He also mentioned that the revenue system will soon be introduced digitally in Nepal. Adding more, Mr. Khatiwada said that Nepal Government will work upon the law and rules of digitalization and electronic transactions in Nepal soon.
Similarly, one of the spokespersons in the event, Mr. Arjun Prasad Pokharel said that the people will be able to pay taxes online and utility bills below or equal to NRs. 100,000 in the first phase of the Digital Payment System.
“Government of Nepal will start educating people about the digital payment system for all financial transactions and expand throughout the country within next fiscal year, i.e. by Mid-July of 2019 AD.”
Again, this project is believed to reduce Businesses costs; collection cost alongside efficiency and transparency. Mr. Khatiwada, also commented that the digital financial transaction system in Nepal will also aid in order to decrease the workload of employees in different Governmental entities of the nation thereby saving the time of the consumers as well.
Spokesperson Mr. Arjun Prasad Pokharel made a numerical interpretation of an advantage of using the digital payment system for the financial transaction in Nepal saying that the Government of Nepal currently spends 69 Paisa in order to collect Rs. 1,000 which may decrease up to 3 paisa for every 1,000 rupees. “Government of Nepal will start educating people about the digital payment system for all financial transactions and expand throughout the country within next fiscal year, i.e. by Mid-July of 2019 AD”, Revenue secretary, Mr. Shishir Kumar Dhungana said.
You can visit the electronic payment portal launched by Government of Nepal at rajaswa.fcgo.gov.np